The Corus Scunthorpe is part of the Corus Construction and Industrial service. There are 5,800 employees, employed at the Corus Scunthorpe. The sale deliveries at the Corus were 4. 1 million. The Corus is the largest iron and steel making plant in the UK. The Scunthorpe Corus announced 44 million pounds in April 2004. They invested part of that in rod mill, and modernising of plate mill, and vacuum degasser and ladle arc furnace. In 2005 they announced 130 million pounds for new reheat furnace and breakdown mill stands in rod mill.
They invested in Medium Section Mill to provide a world-class rail manufacturing facility and the creation of a rail service centre. The high product and volume flexibility of the Corus is 3/4 blast furnaces, section, plants, semis, rods, and strong technical plant capability. The Corus lowered the number of employees in 2004 from 2003. In 2003 there were 13,600 and in the following year there were 12,900. The net assets in 2003 were 793 million pounds and the next year it was 959 million pounds. The turnover in 2003 was 2149 million and increased the following year to 2605 million pounds.
Corus Location Nearness to raw materials Corus was first established near raw materials, as Scunthorpe was famous for coal. It produced large amounts of coal but now the coalmines are closed so there is no advantage. Accessibility Scunthorpe is near the motorway, which will be easier for transport and is close to Hull and Grimsby docks which is cheap to bring in raw the materials from other countries. Government incentives Due to the fact that Scunthorpe is a poor area the government has put incentives on the area to encourage new businesses again to locate there.
Safety Corus is on the west outskirts of Scunthorpe. Also, the prevailing wind blows away the smoke away from Scunthorpe. Corus Activities Main activities Corus are involved in making steel aluminium and iron. It has a large industry of making steel where it turns these raw materials into products, which they sell, all over the world. Hundreds of shareholders own Corus and invest money in them to fund them. Type of industry Corus is classified as Secondary industry. This is when turning raw materials into finished goods.
The bulk decreasing industry is an industry, which is, located the natural resources because the raw materials are bulky. Bursary scheme The apprenticeship scheme is known as Bursary scheme. With the bursary scheme you’ll learn all about the engineering industry and manufacturing and now have teamed with north Lindsey College. Where a student at Corus will go to college and get funded by Corus while working at Corus at the same time. Corus Ownership Public Limited Company There are two types of limited company, private and public. Corus is a public limited company and must have plc after their name.
These businesses are more expensive to set up than a sole trader or partner ship, but carry less financial risk for the owners because they have limited liability Limited liability means that if the company goes bust they only lose the amount of money they invested in the company. Corus are also incorporated, which means that the company has a separate legal identity from its owners. Main features of the company The main features of the Corus Company are the shareholders own it, the board of directors controls it, the appointed managers manage it, the finance is by selling shares and the profits go to shareholders in the form of dividends.
Setting up a limited company for both an Ltd and a plc and involves completing two documents: a Memorandum of Association, and articles of Association. Corus Aims and Objectives Main aims and objectives Corus have four main objectives these are as following, business, people, customers and society. In business terms Corus aim to achieve annual plan key financials in terms of Earnings before Interest Tax and cash. Their aim is to reduce the loss making by addressing customer mix, distribution costs and conversion costs. For people they aim to achieve further improvements in health and safety by delivering targets within business level plan.
This is one of their main aspects. They aim to continue with the development of leadership skills. Their aims for customers are to deliver improvements in customer services. They aim to reduce claims credits by 10 per cent. Their objectives for society are to continue to develop proactive and positive relationships with local stakeholders. One of the main Corus objectives is to create a gain more market reputation. By reducing costs Corus should be able to sell more than other companies and this will attract more and larger companies.
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